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All these are equally essential. The absence of one would cause much trouble. Among these factors of production, however, we can say, the scarcest is the land. We all know that because of acts by humans that are against the nature, the benefits derived from this factor are also being seriously threatened. This is really an alarming reality that we should immediately act upon because of the never-ending benefits from this factor of production.
To make things clear, when we say land as one of the factors of production, we are not solely talking here of the literal meaning of the word land. Land also includes the fruits derived thereof...
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